US Solar Fund (LSE:USFP), which invests in utility-scale solar power plants across North America, has extended the exclusivity period granted to a prospective buyer of USF Holding, the subsidiary holding its entire portfolio of solar generation assets.
The extension pushes the deadline back 60 days to 16 October, giving both sides time to finalise tax analysis, negotiate definitive documentation and complete any remaining confirmatory due diligence.
The Board first granted a 90-day exclusivity window in May, following a non-binding letter of intent from the unnamed buyer, and says diligence has progressed materially since, including an extensive schedule of site visits. The identity of the buyer and financial terms of the potential transaction remain undisclosed.
Completion still hinges on due diligence, any required regulatory approvals and agreement of definitive legal documentation, with a shareholder vote expected should the deal proceed.
"The board is committed to maximising value for shareholders and will continue to provide further updates, including engaging with shareholders when appropriate," the company said.
News Intelligence what this means for the company
US Solar Fund has extended exclusivity on the sale of its entire solar portfolio by 60 days to 16 October as the unnamed buyer completes tax analysis and due diligence. The extension signals continued progress toward a potential transaction, but completion remains contingent on due diligence, regulatory approvals, and shareholder approval—all still uncertain.
The extension keeps the sale process on track but does not materially change the investment case until terms are disclosed and definitive documentation is agreed. Shareholders remain in the dark on valuation and the buyer's identity, leaving the deal's value to the fund uncertain.
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